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San Carlos moves fast. Most buyers here can't wait months to sell before they buy. Bridge loans give you 6-12 months to close on your new property while your current home sells.
This matters in San Mateo County where competitive offers mean same-day decisions. Sellers prefer buyers who don't need sale contingencies. Bridge financing removes that obstacle completely.
Bridge Loans in San Carlos
You need 20-30% equity in your current home. Most lenders want 660+ credit and proof you can cover both mortgages temporarily. The property you're buying needs to appraise.
Bridge lenders focus on equity over income. Self-employed borrowers and retirees qualify easily. As of February 2026, some lenders now accept verified crypto holdings as reserves for bridge qualification.
Local decision guide
Use this guide to connect bridge loans eligibility, lender expectations, and local market factors before comparing payment options in San Carlos.
San Carlos moves fast. Most buyers here can't wait months to sell before they buy. Bridge loans give you 6-12 months to close on your new property while your current home sells.
This matters in San Mateo County where competitive offers mean same-day decisions. Sellers prefer buyers who don't need sale contingencies. Bridge financing removes that obstacle completely.
You need 20-30% equity in your current home. Most lenders want 660+ credit and proof you can cover both mortgages temporarily. The property you're buying needs to appraise.
We access 30+ bridge lenders with different rate structures. Some charge interest-only payments. Others defer all payments until you sell. Rates run 7-10% as of February 2026.
Portfolio lenders offer the most flexibility. They underwrite custom terms for complex situations. Bank bridge loans cost less but have rigid qualification boxes.
Most San Carlos buyers underestimate closing costs on bridge loans. Budget 2-3% in fees. Then add your ongoing mortgage payments on both properties. Run the math before you commit.
I've seen bridge loans save deals in Eaton Hills and White Oaks where homes sell in 10 days. But if your current home sits for 6 months, you're paying double mortgages. Price your listing aggressively.
Bridge loans beat hard money for owner-occupied transitions. Hard money costs 10-14% and requires bigger down payments. Bridge rates run 3-4 points lower for the same scenario.
Home equity lines take 30-45 days to fund. Bridge loans close in 10-14 days. Speed matters when you're competing for San Carlos inventory. Construction loans don't help with purchase timing.
San Carlos sits in a seller's market even during rate volatility. Bridge loans make sense here because homes sell. In slower markets, you risk carrying two properties indefinitely.
The Sequoia Union High School District draws families who need to time moves perfectly. Bridge financing solves the school-year constraint. Close in summer, list your old home after kids start classes.
Most bridge loans extend 3-6 months for a fee. You can also refinance into a traditional mortgage on the new property before the bridge term ends.
Yes. Lenders give better terms when you have a ratified contract. Some waive reserves if your sale closes within 60 days of the bridge funding.
Yes, but rates run 1-2% higher. Lenders want to see rental income or significant reserves. The same equity requirements apply.
Most lenders go to 80% combined loan-to-value across both properties. Your borrowing limit depends on equity in your current home and the new purchase price.
Interest on purchase money is deductible up to IRS limits. Consult your tax advisor. The deduction structure mirrors traditional mortgage interest rules.